Islamabad: Ambassador of Pakistan to Italy Jauhar Saleem has revealed that Pakistan has registered a USD 210 million trade surplus with Italy during the (Fiscal Year) FY2019-20, despite the impact of the ongoing coronavirus pandemic — a news source reported on July 24. He further stated that previously during FY 2018-19, Pakistan had recorded a USD 164 million deficit with Italy.
Saleem made these comments while speaking to both Pakistani and Italian media. He took the opportunity to further break down the trade surplus, stating that Pakistan’s exports to Italy during FY2019-20 were USD 731 million, while the imports stood at USD 521 million. In addition, Pakistani exports to Italy primarily comprised of textile, leather, rice and ethanol.
In this regard, the ambassador said that Pakistan was a market leader in rice exports, and that the country held 38% of the Italian market with rice exports worth PKR 62 million. He added that Italian investment in Pakistan had also increased by 45% as compared to the previous fiscal year, and currently stood at USD 56.4 million.